HOW TO INVEST IN NATIONAL SAVINGS SCHEMES?
1. Directly in a Bank (authorized branches) in Pakistan from his / her own account (in case of SSC® & DSC only).
2. Application form SC-1 may be downloaded from the website and filled in.
3. Attach the cheque / bank draft in favour of Officer Incharge of National Savings Centre concerned.
4. Attach copies of the Passport and CNIC/NICOP/POC.
5. Send to the concerned National Savings Centre directly or concerned Regional Directorate of National Savings.
6. Certificates will be dispatched through Registered Post on your given address.
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ENCASHMENT OF CERTIFICATES / PAYMENT OF PROFIT.
1. The investor shall send the certificates / coupons duly signed with an endorsement “for payment in foreign currency”
2. The investor shall attach a letter containing particulars of certificates / coupons, foreign currency account No. and the name of the Bank where the draft is desired to be drawn.
3. The cheque will be dispatched through Registered Post on given address of the investor.
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HOW TO ENCASH THE SAVINGS CERTIFICATES ON THE BASIS OF POWER OF ATTORNEY.
1. Power of attorney shall contain full particulars of the investment i.e. the amount Regd. No., date of issue, name of original holder, account number, concerned National Savings Centre, specimen signatures of the investor and the signatures of authorized person.
2. Special Power of attorney must be verified by the 1st or 2nd Secretary of the Embassy / Consulate General.
3. The investor(s) must send photo copies of his computerized National Identity Card(s) / Pakistan Origin Card(s) / National Identity Card for Overseas Pakistanis (NICOP), Passport and Health Insurance certificate, indicating his presence abroad duly attested by the 1st or 2nd Secretary of Pakistan Embassy / Consulate General.
4. Attach the signed and filled certificates on reverse side according to the prescribed rates.
5. Send the above documents to the National Savings Centre concerned or Regional Directorate of National Savings. (Addresses are given click here).
6. The attorney shall execute an indemnity bond alongwith surety of an Officer of BPS-17 attested by the Notary Public and countersigned by Class-1 Magistrate to the fact that he will deliver the cheque to the original holder and attorney and surety will be responsible in case of any misrepresentation or concealment of facts if raised by the original investor.
________________________________________
HOW TO GET PROFIT ON THE BASIS OF POWER OF ATTORNEY.
1. Profit can be received on the basis of Special Power of Attorney by authorizing any person in Pakistan giving his / her full particulars.
2. The Power of Attorney so issued shall contain full particulars of the investment.
3. The Special Power of Attorney shall be verified by the 1st or 2nd Secretary of Pakistan Embassy / Consulate General.
PROCEDURE OF INVESTMENT FROM ABROAD
A non resident Pakistani can make investment in National Savings Schemes from abroad by sending Cheque / Draft in any currency in favour of Officer Incharge of National Savings Centre alongwith the application form duly filled in and copies of Passport and National Identity Card. The Bank Draft got prepared in Pak rupee from abroad are cleared much earlier than those in foreign currency. It would be more proper if these are also payable at the same city to the National Savings Centre where the investment is intended to be made.
The investment in all the National Savings Schemes is maintained and expressed in Pak rupee only. Amount received in foreign currency is converted into Pak rupee on the prevailing exchange rate through normal banking channels for investment in National Savings Schemes. Moreover, the principal and profit accrued on a certificate issued against foreign exchange received through remittance shall be payable abroad to the purchaser in foreign exchange if so desired by the investor. For the purpose the payable amount shall be converted into the desired currency at the exchange rate prevailing at the time of conversion / payment. The certificates will be dispatched through registered post on given address.
The detailed information regarding National Savings Schemes, rate of profit as well as purchase application form can be down loaded from our Website www.savings.gov.pk.
How to encah Savings Certificates from abroad on the basis of power of attorney.
i) The investor(s) or nominee(s), as the case may be, living abroad shall issue a Power of Attorney, authorizing any person in Pakistan giving his / her full particulars, to collect their cheques. The Power of Attorney so issued shall contain full particulars of the investment i.e. the amount, Registration No. and date of issue of the certificates, name of original holder or Account number and the concerned NSC (office of issue) and the specimen signatures of person(s) issuing it and shall be verified by the 1st or 2nd Secretary of Pakistan Embassy / Consulate General.
ii) The Savings Certificates of any nature shall be signed on reverse by the investor(s) or nominee(s).
iii) The investor(s) or Nominee(s) shall address an application to the Officer Incharge of the concerned Centre in Pakistan, stating therein, the complete particulars of the investment i.e. the amount, registration number & date of issue of certificates (BSC, RIC), name of original holder(s) and complete particulars of the Attorney, appointed to receive the payment.
iv) The investor(s)/nominee(s) must send photo copies of his/her/their computerized National Identity Card(s) / Pakistan Origin Card(s) / National Identity Card for Overseas Pakistanis (NICOP), Passport and Health Insurance certificate, indicating his/her/their presence abroad duly attested by the 1st or 2nd Secretary of Pakistan Embassy / Consulate General.
v) The Attorney shall execute an indemnity Bond (on stamp paper of proper value) alongwith surety of an officer of BPS-17 attested by the Notary Public and countersigned by Class-1 Magistrate to the effect that he (Attorney) will deliver the cheques(s) to the issuers of the Power of Attorney (investor or the nominee(s) and that if due to misrepresentation or concealment of facts by the executants of Power of Attorney, any claim is raised by the original investor(s) or nominee(s) the attorney and the surety shall be responsible to indemnity the Government of Pakistan.
How to get profit on Savings Certificates from abroad on the basis of power of attorney
i) An investor can get profit of his certificates / accounts on the basis of Power of Attorney by authorizing any person in Pakistan giving his /her full particulars, to collect the profit in his name subject to the entire satisfaction of the Officer Incharge concerned.
ii) The Power of Attorney so issued shall contain full particulars of the investment i.e. the amount, Registration No. and date of issue of the certificates, name of original holder and the concerned National Savings Centre and shall be verified by the 1st and 2nd Secretary of Pakistan Embassy / Consulate General in the country of his / her residence.
http://www.savings.gov.pk/contact_us.asp
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Assalamu alaykum,
Sir i want to invest 200,000 RS.
what is the method.
sukriya
Aleem sahib
If you are in Pakistan, just visit your nearest Saving Center, if you are outside Pakistan, you can send draft or pay order for required amount of investment to you nearest Saving center. Please read the above post carefully.
i want to invest 500,000 RS please tell me the procedure
PROCEDURE OF INVESTMENT FROM ABROAD:
A non resident Pakistani can make investment in National Savings Schemes from abroad by sending Cheque / Draft in any currency in favor of Officer Incharge of National Savings Centre along with the application form duly filled in and copies of Passport and National Identity Card. The Bank Draft got prepared in Pak rupee from abroad are cleared much earlier than those in foreign currency. It would be more proper if these are also payable at the same city to the National Savings Centre where the investment is intended to be made.
The investment in all the National Savings Schemes is maintained and expressed in Pak rupee only. Amount received in foreign currency is converted into Pak rupee on the prevailing exchange rate through normal banking channels for investment in National Savings Schemes. Moreover, the principal and profit accrued on a certificate issued against foreign exchange received through remittance shall be payable abroad to the purchaser in foreign exchange if so desired by the investor. For the purpose the payable amount shall be converted into the desired currency at the exchange rate prevailing at the time of conversion / payment. The certificates will be dispatched through registered post on given address.
Thank you
@ Athar Shad
2. Application form SC-1 may be downloaded from the website and filled in.
3. Attach the cheque / bank draft in favour of Officer Incharge of National Savings Centre concerned.
4. Attach copies of the Passport and CNIC/NICOP/POC.
5. Send to the concerned National Savings Centre directly or concerned Regional Directorate of National Savings.
6. Certificates will be dispatched through Registered Post on your given address.
Click below to download forms;
http://www.savings.gov.pk/application_forms.asp
I BOUGHT SPEICAL SAVING CERTIFACTE JULY 2005 I DONOT KHOW MATURITY DATE OR THEY DONOT HAVE
MATURITY I CAN CASH IN 3 YEARS OR WHENEVER I WANT. ALREADY PASSED 6 YEARS . STILL I AM GETTING
INTERST OR NOT.
IF YOU CAN REPLY INFOMATION THANK
MASOOD KHAN
Idealy SSCs should be encashed and re-invested every three years. If you purchased your SSCs in (lets say) June 2005 than the certificates have reached their maturity in June 2008. According to old regulations your matured amount (after deduction of withholding tax and Zakat) can be considered re-invested from June 2008 for next three years till June 2011 and the same process of re-investment is applicable. In any case you should visit the National Savings Centre from where you had purchased the original SSCs in June 2005 to sort this ‘mess’. It will practically take almost four to five hours to get this sorted because the NSC Officer will have to encash &re-issue the SSCs three times. In future if you can’t be bothered to go through this exercise every three years than please consider DSCs (Defence Saving Certificates) which is a 10 year product. I personally have been a customer of NSC since 1983 and had excellent service from this National Institute; a service 2nd to none – God Bless them.
aslam
i want to invest 5 lack reupees in national saving schem in those days i am in lonodn pl guide me thanks
PROCEDURE OF INVESTMENT FROM ABROAD:
A non resident Pakistani can make investment in National Savings Schemes from abroad by sending Cheque / Draft in any currency in favor of Officer Incharge of National Savings Centre along with the application form duly filled in and copies of Passport and National Identity Card. The Bank Draft got prepared in Pak rupee from abroad are cleared much earlier than those in foreign currency. It would be more proper if these are also payable at the same city to the National Savings Centre where the investment is intended to be made.
The investment in all the National Savings Schemes is maintained and expressed in Pak rupee only. Amount received in foreign currency is converted into Pak rupee on the prevailing exchange rate through normal banking channels for investment in National Savings Schemes. Moreover, the principal and profit accrued on a certificate issued against foreign exchange received through remittance shall be payable abroad to the purchaser in foreign exchange if so desired by the investor. For the purpose the payable amount shall be converted into the desired currency at the exchange rate prevailing at the time of conversion / payment. The certificates will be dispatched through registered post on given address.
Thankyou
Dear…Is the profit rate bargain-able if the amount is more than 10 million? thanx
No bargains, profit rates will remain the same regardless of the amount you invest.
sir,
i want a little ivestment in your grup please give me intrest reat thank you
t cheema
The rates have been revised on 01 April 2012.
Rates revised on 01 Apr 2012:
Pakistan Government on Friday raised marginally returns on various saving instruments under the National Savings Schemes (NSS) with effect from April 1, 2012 in line with recent increase in the yields of Pakistan Investment Bonds (PIB).
The new rates will be applicable on new investments with effect from April 1. On an average the government increased returns in the range of 20 basis points (0.2 percent) to 43 basis points (0.43 percent).
According to an official notification issued by the Central Directorate of National Savings (CDNS) on Friday, the rate on Special Saving Certificate increased to 11.87 percent from 11.67 percent. On Regular Income Certificate, the rate has been revised to 12.12 percent from 11.67 percent while the rate on Behbood Saving Certificate rose to 14.28 percent from 13.86 percent, Pensioners Benefit scheme to 14.28 percent from 13.86 percent, Defense Saving Certificate to 12.33 percent from 11.90 percent and NSS savings accounts to 8.40 percent from 8.25 percent.
You can watch the return rates on different National Savings Schemes on their website: http://www.nationalsavings.gov.pk
Thank you